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  Job growth in South Korea stalls, youth unemployment worsens SEOUL, January 15 (AJP) - South Korea's job market showed signs of weakness in December, with employment falling for the first time since the height of the COVID-19 pandemic in February 2021, according to data released by Statistics Korea on Wednesday. The country lost 52,000 jobs compared to the same period last year, a significant drop from the robust growth seen in previous years. The decline was particularly pronounced in sectors closely linked to domestic consumption. Co January 15, 2025
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  Pentagon chief nominee refers to North Korea as 'nuclear power' SEOUL, January 15 (AJP) - U.S. Defense Secretary nominee Pete Hegseth has referred to North Korea as a "nuclear power." In a written response submitted to the Senate Committee on Armed Services for his confirmation hearing, Hegseth said, "status as a nuclear power, its intense focus on increasing the range of missiles capable of delivering nuclear warheads and its growing cyber capabilities all pose a threat to stability on the Korean peninsula, i January 15, 2025
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  Korean shipbuilders anticipate boom on strong demand from US, China SEOUL, January 15 (AJP) - South Korea’s shipbuilding industry is poised for a resurgence, fueled by prospects of deeper collaboration with the incoming Trump administration and a surge in Chinese demand. Industry Minister Ahn Duk-geun revealed on Monday that the Trump administration is preparing “comprehensive institutional reforms to bolster naval power and support related shipbuilding industries.” Official announcements detailing the initiatives are expected s January 15, 2025
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  Samsung, Apple lose ground in global smartphone market SEOUL, January 15 (AJP) - For the first time since 2016, both Samsung Electronics and Apple saw their global smartphone market shares decline last year, according to research firm IDC data. Apple held 18.7 percent of the market in 2024, while Samsung held 18.0 percent. Samsung's smartphone shipments dipped 1.4 percent to 223.4 million units, despite strong initial sales of its AI-powered Galaxy S24. The company faced challenges with underwhelming sales of its foldable Z series January 15, 2025
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  SK Biopharm to form joint venture in US with Brazil's Eurofarma SEOUL, January 15 (AJP) - SK Biopharm announced plans to establish a joint venture with Brazilian pharmaceutical giant Eurofarma in the United States, the South Korean firm said at the JP Morgan Healthcare Conference on Jan. 14. The venture will focus on commercializing an artificial intelligence-based epilepsy management platform in North America. This platform leverages SK Biopharm's AI technology for brain wave analysis and wearable devices developed since 2018. The remo January 15, 2025
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  Weak won, rising oil prices push import costs higher SEOUL, January 15 (AJP) - South Korea's import prices climbed for the third consecutive month in December, driven by a weaker Korean currency and higher global oil prices, the Bank of Korea (BOK) said Wednesday. The import price index, which measures the costs of goods purchased overseas in won terms, rose 2.4 percent to 142.14 in December from 138.80 a month earlier. This marks a 7 percent increase over the past year. The Korean won weakened about 2.9 percent against the dol January 15, 2025
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  PHOTOS: Yoon arrested for martial law declaration SEOUL, January 15 (AJP) - Investigators arrested President Yoon Suk Yeol on Wednesday and transferred him to the Corruption Investigation Office for High-Ranking Officials (CIO) for questioning regarding his failed martial law declaration on Dec. 3. He is the first sitting president in South Korean history to be arrested. January 15, 2025
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  Yoon arrested over martial law debacle SEOUL, January 15 (AJP) - Investigators arrested President Yoon Suk Yeol after a six-hour confrontation at his official residence in Hannam-dong, Seoul on Wednesday. This marks the first time in the country's turbulent political history that an incumbent president has been taken into custody. Accompanied by over 1,000 police officers, hundreds of investigators from the Corruption Investigation Office for High-Ranking Officials (CIO) arrived at the residence around 5:00 a.m. and January 15, 2025
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  JYP Entertainment's new boy band set for debut next week SEOUL, January 15 (AJP) - Seven-member boy band KickFlip will make their debut next week. "KickFlip will kick off their activities on Jan. 20 with the release of their first mini album, 'Flip It, Kick It!'," said their agency JYP Entertainment on Wednesday. Comprising five South Koreans and two Japanese, a couple of them including rapper Kyehoon have gained some recognition through their appearance on terrestrial broadcaster SBS' audition program "LOUD," January 15, 2025
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  Korea's imported car market shrinks for second straight year SEOUL, January 15 (AJP) - South Korea's imported car market contracted for the second year in a row in 2024, marking the first such downturn since the Asian financial crisis in the late 1990s, according to data released Wednesday by the Korea Automobile Importers and Distributors Association (KAIDA). New registrations of imported passenger vehicles fell 2.9 percent to 263,288 units in 2024, down from 271,034 units the previous year. This follows a 4.4 percent decline in 2023. January 15, 2025